Investment & Investing

Do wonder at what point the SEC will step in...

There must be some old Game Stop employees sitting on some shares too

Do wonder at what point the SEC will step in...

Probably have Blackrock and others nudging them as we speak.

It'll be carnage when the plug eventually is being pulled out. Like bitcoin without the bounce back. A few start selling, the price drops, people get nervous and bails out and the drop continues. With bitcoin there'll always* be a bounce back, usually to even greater highs, bit in this case it feels like it'll just nosedive

*ish

I would probably not describe WallStreetBets users as "decent folk". Libertarians at best.

https://www.youtube.com/watch?v=etlHxd7koE8

either high volume has crashed that sub reddit or the fed and the nsa have taken it out of commission... maybe thats how they'll solve the problem

Im using the term very loosely, i read it sometimes and think these folk are fuckin mental. I prefer crypto myself more and dont really have enough money to do shares too where when the arse drops out them it drops and never returns.

Is it going?

All of Wall St is taking a massive dump today - there will be plenty of sad faces amongst the Pro's.

Trading halted, brokerages and Reddit down, doubt it! It did the same thing yesterday.

This event feels like The Big Short if the script was crowdsourced via Reddit

A mate described it as "The Big Short X Pineapple Express"

Halted because volatility, lots of chat about CNBC manipulating the market with a news piece... drama but seems the wsb horde and others are hodling ...

Trading websites / apps are down, too.

This is the point. The company was solvent, and had more cash than debt at the start of this whole thing. Why should a solvent company have to fold (and all their employees lose jobs) just because a hedge fund decided they were doomed and got greedy?

Would that have been the outcome should the short have gone un-checked by WSB? I think I missed that bit. Maybe it would. But if GME was to be finished off, you have to ask some serious questions about the mid-long term viability of the company at the time the short strategy was implemented. If the company was healthy and had an obvious future, investors would pour back in at the lower share price.

Obvs had the short gone unchecked GME's life isn't going to have been made easier but then nothing about being listed makes a company's life easier - it's just a way of getting access to capital in exchange for losing some control.

212 seems to be back up after taking a massive shit on opening bell.

I popped £200 into AMC yesterday which has shot up.
Didn't really have anything in GME in time.

The whole thing is affecting the rest of my pie right now. Seems it's all worried a lot of people.

Seems it's all worried a lot of people.

Can't think why!

Asking as a pleb: could it trigger a crash? Or a semi-crash?

No. A few goons on Reddit can't crash the entire economy.

After the last twelve months, statements like this make me even more nervous.

I guess it depends how big it goes and how many hedge fucks are involved. If they have to sell off their other stocks to cover this short, it might affect prices elsewhere.

No. A few goons on Reddit can't crash the entire economy.

Directly, no. But there's no telling what the fallout from GME, AMC, etc. will trigger. The market is extremely frothy at the moment and there's no telling what is going to trigger a change in sentiment. Comparisons with dotcom bubble shouldn't (but will inevitably) be brushed aside. Market sentiment is fickle and stocks can't just go stonks indefinitely; at best there will be significant correction, at worst... who knows.

I wonder if many (any) funds managed to get in to make money on GME.

I was sitting there on T212 looking at GME @ $249 in the dip just after open. Bastards wouldn't let me buy. Just froze on Review Order button. Then they suspiciously suspended trades. It'd take up to 3 business days to withdraw my funds. It's gone up 70% since then.